Monday, August 12, 2013

I'm capable of forgiving the administration for a surprising number of things based one real or perceived constraints they faced, but they really had a lot of power and allocated money to deal with the housing crisis/foreclosure fraud/banksters issue. And they used it, but not in the right way. Also, too, not honest.

The Justice Department made a long-overdue disclosure late Friday: Last year when U.S. Attorney General Eric Holder boasted about the successes that a high-profile task force racked up pursuing mortgage fraud, the numbers he trumpeted were grossly overstated.

We're not talking small differences here. Originally the Justice Department said 530 people were charged criminally as part of a year-long initiative by the multi-agency Mortgage Fraud Working Group. It now says the actual figure was 107 -- or 80 percent less. Holder originally said the defendants had victimized more than 73,000 American homeowners. That number was revised to 17,185, while estimates of homeowner losses associated with the frauds dropped to $95 million from $1 billion.